Debt can be difficult to shake off, especially with facilities like credit cards being so easy to abuse. Read more to find out how to eliminate credit card debt.
Credit card rates can begin at anywhere from 10% per annum and can be as high as 30%! Using a credit card excessively traps many in unmanageable debt, this coupled with a variety of other debt such as mortgage and car repayments, same time is even more difficult to overcome.
So what strategies can be employed to alleviate all this debt?
The first method is to move as much debt as possible to the credit card with the lowest interest. Cutting interest is after all eliminating some part of the debt. This method saves people hundreds of dollars a year and thus eat into the capital quicker. To take full advantage of this, however, you must cancel credit card accounts that have the highest interest rates.
There are numerous advantages of “key person” insurance, the most obvious being protecting your business in case you lose a key member of the team, but there is more to consider.
“Key man” or “key person” insurance is a life insurance policy taken by a company to cover the loss of an employee / partner who is essential to its functioning. These key people could be executives, principal shareholders, or even lower level employees who have gathered vital expertise, corporate history or knowledge or customer relationships.
Key person insurance is essential if you have an employee whose skills cannot be easily replaced. It is especially important if the loss of the employee will negatively impact productivity, capital value, sales, etc.
Retirement planning is a process that must cater to every individual’s specific needs. Lifestyles and ideas for retirement vary greatly and influence key decisions when planning for this period of life. The only universal rule when preparing for it is – start early.
A good retirement fund will finance two to three decades of living with a comfortable and sustained lifestyle. Achieving it is not simply a matter of saving money for a long period of time and requires a combination of discipline and personalized strategy.
Some plan to stop working when they retire, while others plan to continue to work as long as possible and only reduce their number of hours as they get older. While there are also options in between, factoring in these decisions will help guide the entire process. Once a fixed goal is set, the path that leads there becomes clearer.
TPD insurance can help support those who face one of life’s worst crisis – the loss of a career and major lifestyle changes due to permanent disability.
All professions are fundamentally dependant on an individual’s physical health, and the loss of physical abilities can force victims to abandon the careers they spent years building. Total Permanent Disability (TPD) insurance helps such people cope with the sudden loss of their income and the heavy costs of rehabilitation, hospitalization and potential emotional and financial hardship.
This situation could be caused by injury or an illness which makes a person unable to pursue or continue in the profession that they are qualified for or have relevant experience in.